<span>When you are modeling economic booms and busts, the biggest difference between modeling economic busts and booms is that there is basically no issue of very rigid nominal wages when one is modeling these different types of booms.</span>
Answer:
Income
Price of related goods
A good's own price
Tastes and preferences
Number of consumers
Explanation:
<u>A good’s own price:</u> the law of demand states that when prices rise, the demand falls. That also means that when prices drop, demand will grow.
<u>Income:</u> when income rises, so will the quantity demanded. When income falls, so will demand.
<u>Prices of related goods:</u> these are either complementary, those purchased along with a particular good or substitutes. They can also influence the demand.
<u>Tastes and preferences:</u> when the consumer’s tastes or preferences change in favor of a product, so does the quantity demanded.
<u>Number of consumers:</u> it has a major effect on the demand. As the number increases, the demand rises.
Answer:
The answer is: the 80/20 rule
Explanation:
Applied in business, the 80/20 rule (also called the Pareto Principle), states that 20% of your customers account for 80% of your sales. It doesn´t necessarily need to be an exact proportion of 80/20, but as a rule it should help organize our time and activities in dealing with our most important customers.
As a general rule it applies to most activities of a person´s ordinary life, were 20% of the time we spend result in 80% of the benefits.
Autocratic
All the other options are a type of leadership
Answer: The correct answer is "firms offer different levels of service".
Explanation: Firms might charge different prices for the same product even when transactions costs are zero and the product can be resold if the <u>firms offer different levels of service. </u>Because depending on the level and quality of the service offered they may charge a higher or lower price.
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